Big winners of the budget - and it's looking BRIGHT for Migration
Big winners of the 2020 budget are announced and it is looking bright for Employer Sponsored, Global Talent, Business Innovation and Investment program visas – all set to be prioritised.
The budget papers predict that by 2023-2024 there will be an increase to 201,000 of net overseas migration which is extremely positive news for the Migration Program planning levels. The Government clearly sees value in highly skilled individuals from overseas and as a result these planning levels are on the increase and highly accessible.
We certainly are heading in the right direction for economic recovery.
Global Talent Program & Talent Taskforce
With the talent taskforce already established and focused on attracting the best and brightest migrants from around the world (as you may know we’ve been quite excited about this in our last few posts )– this program is now set to triple to 15000 places. This is huge news and considering over 4,000 were utilised from November 2019 – June 2020, we anticipate that the interest will be there and these extra places will be snapped up quickly. Anyone contemplating their eligibility – get in touch and we can let you know if you qualify.
Business Innovation and Investment Program
With this program set to be prioritised there has been an announcement to increase program levels to a total of 13500 places on offer. This program will be streamlined with a core focus on investments directed towards Australian venture capitals, small – medium enterprises and entrepreneurs geared towards supporting economic recovery.
Regional marked as priority
With fewer offshore applications being processed so far in 2020, it does seem that onshore applicants will continue to get priority, particularly those in designated regional areas for the 2020-21 Migration Program. That’s not to say that you can’t apply offshore and get an exemption – we’ve obtained many of these for our clients so if you are in this circumstance, reach out as we can help.
With the impact of COVID-19 on travel, the Government are offering refunds, waivers or visa extensions to visa holders who are unable to travel to Australia. On a further positive note, the Government has agreed to waiving the visa application charge for Visitors and Working Holiday Makers with the aim of boosting tourism once borders re-open.